Innovative company looks to reach international markets
July 14, 2014 – Edmundston, NB – Atlantic Canada Opportunities Agency (ACOA)
Corruven Canada Inc. will be seeking new markets and increasing sales thanks to support from the Government of Canada.
The Honourable Rob Moore, Regional Minister for New Brunswick and Minister of State (Atlantic Canada Opportunities Agency), and the Honourable Bernard Valcourt, Minister of Aboriginal Affairs and Northern Development and Member of Parliament for Madawaska-Restigouche, made the announcement today in Edmundston with company officials.
The project involves the development of a marketing strategy designed to commercialize the company’s corrugated products in the United States. Thanks to this funding, Corruven Canada will hire a Marketing Director, attend trade shows and develop various marketing tools as part of a marketing plan that spans over 2014 and 2015. Through this initiative, the company will commercialize three corrugated wood products both nationally and internationally while developing key strategic partnerships to further export its innovative products.
The Government of Canada, through ACOA’s Business Development Program, is providing a repayable contribution of $300,000 to support this marketing project, while Corruven Canada Inc. is investing $100,000.
Quick Facts:
• Corruven Canada Inc. (CCI), a private Canadian company incorporated in 2008, has invented and patented a technology to harness the natural forces of wood.
• Corruven Canada Inc. is headquartered in Kedgwick, N.B. while the company’s production plant is located in Edmundston, N.B.
• The company's mission is to develop applications using the Corruven® technology as well as to conduct research on the combination of materials that meet the needs of consumers.
• Since 2009, the company has obtained three patents (corrugated board, support T, prefabricated roof), established a production line for corrugated board (extremely lightweight composite panels) and developed its own adhesive compound.
• The Corruven® composite panel is an innovative lightweight and structural panel solution. The Corruven® technology takes advantage of the strength of the natural carbon fiber found in wood to make formaldehyde free panels that are up to 75% lighter, 61 times stronger, capture twice more CO2, and use only 25% of the raw material compared to traditional products.
• Among new products, Corruven will soon release “UVEN SKY”, a decorative and acoustic ceiling tiles.
Quotes:
“Our Government understands the important role the forest industry plays in strengthening our economy and ensuring our region’s competitiveness in the global economy. By supporting innovative companies like Corruven Canada, we are helping produce and export new world class products, which will further contribute to the sustainability and competitive edge of our forestry industry.”
- The Honourable Rob Moore, Regional Minister for New Brunswick and Minister of State (Atlantic Canada Opportunities Agency)
“Our Government’s support will help Corruven Canada Inc. bring the company’s flagship corrugated products to new national and international markets. Today’s investment will help the company to reach new levels of growth and sustainability, potentially generating new competitive products, and help support a strong economy in New Brunswick.”
- The Honourable Bernard Valcourt, Minister of Aboriginal Affairs and Northern Development and Member of Parliament for Madawaska-Restigouche
“The support from ACOA plays an important role in fostering innovation and building great companies in Atlantic Canada. For a high technology firm like Corruven, this support means new product launches, faster growth in Canada and the US, and will lead to the creation of additional jobs.”
- Alain Bélanger, President of Corruven Canada Inc.
Associated Links:
• www.acoa-apeca.gc.ca
• http://www.actionplan.gc.ca
• http://corruven.com/
Contacts:
Kelsie Corey
Director of Communications
Office of the Honourable Rob Moore
Atlantic Canada Opportunities Agency
613-941-7241
Ted Parisé
Senior Communications Officer
Atlantic Canada Opportunities Agency
506-452-3310
Daniel Beauregard-Long
Director and Investor relations
Corruven Canada Inc.
506-740-3919
